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Apple to Invest $300 Million in China’s Clean Energy Fund

Apple

On 12th July 2018, Apple announced that it will be investing $300 million in China’s clean energy funds through partnerships with its suppliers. The China Clean Energy Fund aims at producing 1 gigawatt of energy or power which will be enough to provide power to 1 million homes using just renewable means.

China is one of the top countries in the world when it comes to high pollution and poor air quality. In its effort to clean up the air, Chinese government has made a considerable push towards the development of clean energy sources. This effort will not only improve the pollution of the country but it is also expected to build industries of the future.

China is the world leader when it comes to wind and hydro power

Government’s efforts and public conscience has together ensured that in just one year China installed more solar panels that the rest of the world last year and is leading in both wind and hydro power. Today, China has become a receptive market to incubate and develop renewable energy plans but getting smaller businesses on clean energy is still a challenge. By investing the Clean Energy Fund, Apple is hoping that it will provide better purchasing power to industries and businesses of all sizes.

Apple is Planet conscious 

Apple as a business, has always been very open about renewable energy. For this company, all the struggle with energy and a wish to make a difference started decades back when it was planning renewable energy sources for its data center in North Carolina.  At that time the company has brought in a solar contractor to set up a solar energy facility. This project eventually turned to a bio gas fuel cell and three local solar farms in North Carolina.

This year in April, Apple debuted the recycling robot Daisy, which dissembles iPhones. The company also announced that all its global setup will now be powered by clean energy and the company is going to put in extra efforts to ensure that this is achieved asap. In the 2018 environmental responsibility report, the company said. “

“Apple’s mission has never wavered. We are here to change the world… it’s why we continuously strive to do more with less—reducing our impact on the Earth we all share, while expanding and redefining the possibilities ahead.”

The first batch of apple suppliers who will be collaborating with the company to contribute towards the fund include the names like, Compal Electronics, Corning Incorporated, Goldern Arrow, Catcher Technology, Solvay, Sunway Communication, Pegatron, Wistron, Jabil and Luxshare-ICT. The funds will be managed by DWS Group.

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